Often‚ the rules and regulations created by governing bodies are reactions to societal events and pressures. This pattern certainly holds true in regards to financial reporting. The first financial reporting regulations were set in place during the Great Depression in reaction to the stock market collapse of 1929. These regulations were The Securities Act of 1933 and The Securities Exchange Act of 1934‚ which established the Securities and Exchange Commission (SEC) and became the foundation for future
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Q3: Should Apple lobby the FASB to change the revenue recognition rules for smartphones? In our opinion‚ Apple should lobby FASB to change the revenue recognition rules for smartphones‚ given the following reasons:- 1. Under “non-GAAP measures”‚ Apple’s performance looked much better than that under GAAP measures. Please find below a table1 summarizing the differences of key financial data between GAAP and non-GAAP measures for the fourth quarter of 2008:- Q4 2008 GAAP ($ billions) Non-GAAP
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History of IFRS During Second World War‚ international accounting standards began to grow due to the lack of knowledge in recording accounting and the increases of cross boarder capital flows in the market. Several accounting board had been formed for the purpose of development of accounting standards to make it readable‚ understandable and record in a proper way. All of these accounting boards and committee are using the same way to convergence which is harmonization instead of standardization
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| | |The History of Auditing | |A detailed overview | |
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influence does the SEC have over the FASB pertaining to setting accounting standards? Do the SEC and FASB work together as believed by the authors of The Accounting Standards Setting Process in the U.S.: Examinations of the SEC-FASB Relationship ? Or is the FASB in complete control of the standard setting process? The SEC has the legal responsibility to set accounting standards‚ but gave this duty to the FASB. According to the article a lot of what the FASB does is a reaction to the immense pressure
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History (from Greek ἱστορία - historia‚ meaning is about an umbrella term that relates to past events as well as the discovery‚ collection‚ organization‚ and presentation of information about these events. The term includes cosmic‚ geologic‚ and organic history‚ but is often generically implied to mean human history. Scholars who write about history are called historians. History as well as ancient geometrical applications of history can also refer to the academic discipline which uses a narrative
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History and geographyFrom Wikipedia‚ the free encyclopedia This article is about the academic discipline. For a general history of human beings‚ see History of the world. For other uses‚ see History (disambiguation). Historia by Nikolaos Gysis (1892) Those who cannot remember the past are condemned to repeat it.[1] —George Santayana History (from Greek ἱστορία - historia‚ meaning "inquiry‚ knowledge acquired by investigation"[2]) is an umbrella term that relates to past events as well
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History of Accounting The name that looms largest in early accounting history is Luca Pacioli‚ who in 1494 first described the system of double-entry bookkeeping used by Venetian merchants in his Summa de Arithmetica‚ Geometria‚ Proportioni et Proportionalita. Of course‚ businesses and governments had been recording business information long before the Venetians. But it was Pacioli who was the first to describe the system of debits and credits in journals and ledgers that is still the basis of today’s
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History Assignment: 3 Q.1) What were the main characteristics of the writings of the Nationalist School of Historiography? Ans: The Nationalist School of historical writing contributed to the self- confidence‚ self-assertion and a certain national pride which enabled Indian people to struggle against colonialism especially in the face of denigration of India ’s past and the consequent inferiority complex promoted by colonial writers. K.A. Nilakanta Sastri and other historians also helped overcome
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History is one of the oldest subjects of study. By history we understand the breadth‚ comprehensiveness‚ variety and extent of learning experiences‚ provided by the study of a particular subject. The growth of history has accompanied with the growth of human race. Thus history and man are inter-related or that history is a story of human race from beginning up to the present day. History at present is no more confined to the study of political activities of man but it also includes a study of
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